In the world of cryptocurrency, security breaches can have profound implications not just for the targeted exchanges, but for the broader community as well. Indian crypto exchange WazirX experienced this harsh reality during a significant cyberattack that resulted in the theft of a staggering $230 million worth of digital assets in July 2024. In an
Exchanges
On January 13, 2024, the US Court of Appeals for the Third Circuit delivered a significant ruling in the ongoing legal battle between Coinbase, a leading cryptocurrency exchange, and the Securities and Exchange Commission (SEC). The court, led by Circuit Judge Ambro, found the SEC’s rationale for denying Coinbase’s request for clearer rules regarding digital
On January 16, 2024, Coinbase unveiled a groundbreaking partnership with decentralized money market Morpho, aimed at expanding the range of financial services available within the cryptocurrency ecosystem. This collaboration introduces a new avenue for Coinbase users to secure loans in USD Coin (USDC) using Bitcoin (BTC) as collateral, thereby merging traditional financial principles with decentralized
In a landmark decision, the U.S. government has mandated the return of approximately 94,000 Bitcoin (BTC) that were confiscated in relation to the infamous 2016 Bitfinex hack. This ruling signifies a pivotal moment in crypto regulations and sets a precedent for how governmental bodies may handle similar incidents in the future. The decision emanates from
On January 15, 2024, the US Department of Justice (DOJ) delivered a decisive blow to BitMEX and its parent organization, HDR Global Trading Limited, by imposing a hefty fine of $100 million. This ruling stemmed from alleged violations of the Bank Secrecy Act (BSA), with the firms pleading guilty to these charges after a long
In a significant development for its international strategy, HashKey Group, a prominent digital asset firm based in Asia, has secured in-principle approval for a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA). Announced on January 13, this endorsement sets the stage for the firm’s ambitious expansion into the Middle
The emergence of decentralized platforms has sparked debates about ethical boundaries, especially when their operations intersect with real-world tragedies. One such platform, Polymarket, has recently come under fire for its controversial decision to allow betting on catastrophic events, particularly wildfires ravaging California. As scrutiny from the public and regulators escalates, it challenges us to reconsider
The ongoing saga surrounding FTX, once a thriving cryptocurrency exchange, has taken a new twist with the challenge of its European subsidiary’s sale to Backpack, a platform established by former FTX employees. FTX, now in bankruptcy, has asserted that the anticipated sale of FTX Europe AG, the parent company of FTX EU, did not follow
The cryptocurrency landscape in Kazakhstan has undergone a significant transformation as the government elevates its efforts in enforcing regulations, particularly concerning illegal exchanges. In 2024, the Financial Monitoring Agency (AFM) spearheaded a comprehensive crackdown that revealed alarming insights about the unregulated crypto trading environment previously flourishing in the country. This move highlights not only the
In a significant move to enhance the trading dynamics of the Bitcoin market, Nasdaq has proposed a substantial increase in the options contract limit for the iShares Bitcoin Trust ETF (IBIT). The current cap stands at 25,000 contracts, a figure that the stock exchange aims to elevate to 250,000. This increase represents a mere 2.89%
